China defies Trump with new round of tariffs on US goods

China and US

China announced on Monday, that it would impose higher tariffs on a range of U.S goods. Goods including frozen vegetables and liquefied natural gas would have tarrif imposed over them.

China’s finance ministry said it plans to set import tariffs ranging from 5 percent to 25 percent on 5,140 U.S. products on a revised $60 billion target list. It said the tariffs will take effect on June 1.

Auto exports to China weren’t included in this round of tariffs, it was reported. It wasn’t clear if other auto-related parts, components or technologies were on the latest list.

Top White House economic adviser Larry Kudlow said on Sunday there was a “strong possibility” Trump will meet China’s Xi at a G20 summit in Japan in late June.

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